Rapid increase in population of companion animals and livestock animals globally is one of the major factors expected to favor market growth for veterinary vaccines. Rise in awareness about the vaccination programs are further favoring growth of the global veterinary vaccines market. The market is estimated to witness considerable revenue traction over the forecast period, due to increasing incidence of food-borne zoonotic diseases worldwide. Also, rise in demand for white meat in the North American and European countries is in turn expected to support growth of the veterinary vaccines market in the near future.
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According to the PoultrySite - Poultry News, Health, Welfare, Diseases, Markets and Economics, in 2013, there was a significant rise in demand for white meat in Italy since a decade, with demand for turkey, chicken and eggs increased by 8.5%, while production of poultry increased by 16%.
According to Maine Center for Disease Control & Prevention, in 2013, around 75% diseases of animal origin affecting humans were infectious diseases. Animals should to be treated according to the severity of diseases, as they are human companions and serve as a source of meat and dairy products. The specificity of the vaccines is responsible for increasing demand for the veterinary vaccines that can be used as prophylaxis.
According to clinical microbiology paper published in 2007, veterinary vaccines comprise around 25% of the animal health products worldwide. Veterinary vaccines industry has witnessed significant traction, owing to various factors such as technological advancements in novel vaccine development methods, which is increasing adoption of the veterinary vaccines worldwide. Furthermore, drug resistance to existing pathogens and new diseases is propelling drug discoveries.
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According to the Journal of American Veterinary Medical Association (JAVMA) 2017, veterinary vaccines market witnessed several acquisitions and mergers in order to gain maximum market share. However, 85 to 95% of veterinary hospitals in the U.S. are owned independently. Mars Incorporated—a company involved in manufacturing of Petcare, Chocolate, Wrigley, Food and Drinks—acquired VCA Inc. – a pet health care services provider in the U.S. and Canada that delivers around 800 small veterinary hospitals – in total value of around US$ 9.1 billion.
Some of the major players are Zoetis Inc. Merck Animal Health, Merial Inc., Boehringer Ingelheim, Bayer Animal Health, Elanco Animal Health, Ceva Animal Health, Heska Corporation, Virbac Inc., and Indian Immunological Ltd.
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